[Webinar] Financial Audit of Your Apartment Complex and Closing of Accounts: Key Takeaways

Though we have conducted several workshops before on various topics related to apartment management and accounting, they were all conducted in Bangalore. Apartment Association Members from across the country had been requesting…

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Swachh Bharat Cess on Service Tax in Apartment Complexes

Dear ADDA Treasurers, You may have heard of the Swach Bharat Cess being added to Service Tax. A circular was published by Revenue department on 6-Nov-2015, based on which below…

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Service Tax Changes in your ADDA

Dear ADDA Treasurers, If you are in a hurry here is the summary : You need not do anything – we have automatically rolled out the new tax rates in…

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Service Tax Changes in your ADDA

Dear ADDA Treasurers, If you are in a hurry here is the summary : You need not do anything – we have automatically rolled out the new tax rates in…

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Change in Service Tax rate to 14%

So far, you have been paying service tax at the rate of 12.36%. But not anymore, as the new Service Tax rate of 14% will be rolled out starting next…

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Service Tax for Societies – whether 12.36% or 14% to be applied for 1st April, 2015 invoices?

“To facilitate a smooth transition to levy of tax on services by both the centre and the states… the service tax rate is being increased from 12 per cent plus…

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New Development in Service Tax for Housing Societies

The latest decision passed by the tax tribunal is nothing short of melody to the ears of flat-owners and owners of commercial spaces within housing societies. There are nearly a…

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Service Tax for Housing Societies – Clarity

The Budget of July-2012 has given considerable clarity about Service Tax for Housing Societies. Right after the Budget we had presented the interpretations in this article. The article included inputs…

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Is your Housing Society Taxable?

Post Budget 2012, the eligibility of a Society for Service Tax collection and remittance can be calculated as below: Step1: Total all collections of last year, subtract collections that went…

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Service Tax for Housing Societies and Apartment Complexes – impact of Budget 2012

There have been Drastic Changes in the Service Tax law as applicable to Apartment Owners Associations or Cooperative Housing Societies, as presented in Budget 2012. These changes are applicable from…

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